OREANDA-NEWS. September 20, 2012. The Committee for Interaction with Minority Shareholders of Sberbank held its meeting. The main issue in the agenda was the completion of the deal between Sberbank and BNP Paribas Personal Finance on establishing BNP Paribas Vostok LLC, a joint POS lending bank that will work under Cetelem brand, reported the press-centre of Sberbank.

"The joint bank will use the concept of "responsible lending" developed by Cetelem and supported by Sberbank that looks to provide clear and transparent products at reasonable rates. This will also contribute to the successful development of the Russian POS lending market, said Andrey Lykov, the General Director of Cetelem.  – The established bank will enable us to capture leading positions in the Russian POS lending market."

The minority shareholders were positive about the acquisition of the bank and desire of Sberbank to develop its next area of business. They also were satisfied about the level of collaboration with Sberbank's management.

"We are happy that Sberbank continues to actively develop new markets and set ambitious goals, said Anton Danilov-Danilyan, Chairman of the Committee for Interaction with Minority Shareholders of Sberbank. – We also consider it very important that the management of Sberbank is holding the meetings like this one to inform the minority shareholders in detail about the processes in the bank."